Worldwide Banks Stingy with Loans in Q3 2009
January 27, 2010 /EIN PRESSWIRE/ According to the Bank for International Settlements (BIS), worldwide lending dropped more than $200 billion in the third quarter of 2009.
Although the $235 billion drop in lending year-to-year was steep, it was much better than the $420 billion drop reported in the second quarter of 2009.
In total, international bank lending fell by more than $3 trillion in the first 9 months of 2009. The high dollar amount exists even though governments funneled large amounts of cash into the financial industry to free up credit markets.
Read about this story and more at Banking Industry Today:
Latest Bank for International Settlements news – http://banking.einnews.com/news/bank-for-international-settlements
Latest Bank Bailout news – http://banking.einnews.com/news/bank-bailout
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